Ascent Resources PLC Exercise of warrants and loan repayment (1560L)
January 11 2021 - 1:00AM
UK Regulatory
TIDMAST
RNS Number : 1560L
Ascent Resources PLC
11 January 2021
11 January 2021
Ascent Resources plc
("Ascent" or the "Company")
Exercise of Warrants and Repayment of Debt
Ascent Resources Plc (LON: AST), the onshore Caribbean, Hispanic
American and European natural resources company announces that it
has today received a Warrant Exercise notice over 833,333 new
ordinary shares for a consideration of GBP62,500. The Warrants are
being exercised by Align Research in consideration for surrendering
an equivalent value of loan notes. Additionally, the Company has
agreed to issue 66,667 new shares at 7.5 pence, being the coupon
conversion price, in lieu of the 8% cash coupon that is incurred on
the converted loan amount. The Company has therefore today issued
900,000 new shares and admission of these shares is expected to
take place on or around 15 January 2021.
The Company and the Lender confirm that following this warrant
exercise and coupon repayment the outstanding balance on the loan
arranged by Align Research is now GBP62,500 and the Company has a
further GBP375,000 of funds available to draw down under the
facility.
In accordance with the provision of the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority, the Company
confirms that, following the issue of the warrant and the coupon
shares, its issued ordinary share capital will comprise 96,392,272
ordinary shares. All of the ordinary shares have equal voting
rights and none of the ordinary shares are held in Treasury. The
total number of voting rights in the Company will therefore be
96,392,272. The above figure may be used by shareholders as the
denominator for the calculations to determine if they are required
to notify their interests in, or change to their interest in, the
Company.
Enquiries:
Ascent Resources plc Via Vigo Communications
Andrew Dennan
WH Ireland, Nominated Adviser & Broker
James Joyce / Chris Savidge 0207 220 1666
Novum Securities, Joint Broker
John Belliss 0207 399 9400
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END
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